UK not paying GBP39 billion debt to EU is debt default

and thus relevant for the UK credit rating 

sounds plausible innit

Only if you completely ignore everything intelligent which has been written about it.

So I can see why you've drawn that conclusion.

I doubt it would be officially debt default

but it would definitely be perceived as pretty close

and therefore it would be relevant for our credit rating, as well as general standing 

Why should a contractual dispute affect your credit rating? 

Particularly when the other party is in repudiatary breach? 

plausible if you redefine the word "default"

though a lot of redefining words happens these days

It's a great way to start trade negotiations with the EU, that's for sure.

They are not going to reopen negotiations because of that buffoon bojo, right? If they do I’m officially ashamed 

some poor sod in the treasury is having to read boiler plate cross default clauses now that nobody thought would ever be a thing sort of an apocalyptic meltdown

DD - why would you ashamed if the EU reopened negotiations with us?

Because they've disbanded the negotiating team - there's no way back from that.

a) Because they said they wouldn’t 

b) Because you cannot under any circumstances reward bojo/Britain given this behavior 

Because, because, because, because ot the wonderful things he does

Presumably that £39 billion is made up of various elements (a) amounts indisputably owed due to prior commitments (b) the "grey area" that will probably need judicial ruling of some sort if not settled and (c) the cost of the retaining access to the single market through transition.   I would have thought refusal to pay (a) could well have an impact on our credit rating

If Brexit is ever going to happen shurely they have to re-open negotiations (as Merkel has said) as it ain't going anywhere with current deal and Parliament will block a no deal

and none of these twats have the balls to revoke A50 so what other option is there?


I would have thought refusal to pay (a) could well have an impact on our credit rating


An alleged (and disputed) amount owed under a treaty (which the 'creditor' in question probably won't take to a valid international tribunal) is most certainly not "sovereign debt" as far as the rating agencies are concerned.

Equally its clear that the UK has the where with all to pay the amount so it isn't (in and of itself) evidence of any increase in likelihood of defaulting on actual sovereign debt.

Its a fucking stupid idea (certainly to go through with it and possibly to threaten it) and we will probably get punished by the EU as a result.  The economic consequences of such punishment could potentially impact on our credit rating - but our credit rating will be determined by whether we suffer economically not by whether or not we pay the "divorce bill".

and none of these twats have the balls to revoke A50 so what other option is there?

If we get a PM less bothered about optics within the hard right (because, I dunno, maybe they were a key part of that vocal lobby group) then I think we'll get a deal that is remarkably similar to May's deal.  If all it needs is some sort of fudge on how long the backstop lasts for, then a fudge will be found.

The EU considered offering one but didn't think May would get it past the loons in her party, who - let's face it - just wanted to bring her down.  Once the loons in the party have a grip on power, I bet they become rather tuglite about the backstop and grasp anything remotely resembling a compromise.

DDKing / Traums / LordHawHaw - you were pwned within 5 mins and with the first reply.

Will still no one rid us of this turbulent, racist pest?